In a statement, MBA SVP Mike Fratantoni noted, “Forbearance requests fell relative to the prior week but remain roughly 100 times greater than the early March baseline. While the pace of job losses have slowed from the astronomical heights of just a few weeks ago, millions of people continue to file for unemployment.”
A FHFA spokesman told Inside Mortgage Finance the pricing approved by the agency is “fair and reasonable. He added: “We have heard these loans would sell for much lower prices (15-20% discounts) in private markets.”
The reaction from some trade group officials was swift. Scott Olson, Executive Director of the Community Home Lenders Association, called the new COVID-19-related guidelines “totally inadequate.”
Regulators have assured financial institutions they will not bring public enforcement actions when an institution makes a good faith effort to support borrowers...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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